SunAsia to Invest P12 Billion in Laguna Lake Floating Solar Farms

MANILA, Philippines — SunAsia Energy Inc. is committing over P12 billion to develop two utility-scale floating solar projects across Laguna Lake. The company, through subsidiaries NewAsia Power Energy II Corp. (NPE2C) and Nortesol II Inc. (N2I), is seeking environmental clearance for the projects, each with a capacity of 131.79 megawatts-peak (MWp). NPE2C and N2I will build the Sta. Rosa and Cabuyao 1 floating photovoltaic power plants, respectively, based on separate filings with the Department of Environment and Natural Resources. Construction of both projects is targeted from this month to December 2027, with commercial operations expected to begin in January 2028. Each facility is designed to operate for 25 years. With an indicative project cost of around P6 billion each, the proposed floating solar farms cover two of the 10 blocks designated by the Laguna Lake Development Authority. NPE2C and N2I expect the two projects to help the country reduce reliance on fossil fuels, mitigate the impacts of climate change and boost Luzon’s power supply. Throughout the development and operation phases, the proponents also aim to create local employment opportunities in the clean energy sector. Led by former agriculture undersecretary Tetchi Capellan, SunAsia is a local renewable energy developer focused on innovative clean energy solutions, including floating solar and solar-on-water projects. The company recently partnered with Vietnam’s VinEnergo to invest around $406 million to build three solar projects totaling 422 MWp across Pampanga and Negros Occidental. The projects will use an innovative solar-on-water model, where panels are mounted on concrete pile structures above water areas, allowing aquaculture and fishpond operations to continue beneath and around the installations. Once operational, the facilities are projected to generate enough clean energy to power more than 278,000 homes and displace around 460,888 tons of carbon emissions annually.